Economic Development

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Economic Development Division
150 S. Front Street, Suite 220
Columbus, Ohio 43215

614-645-8616

Financial Assistance

  We have numerous financial tools to assist the needs of growing business. Financial Incentives are used strategically to leverage significant business expansions or relocations. Incentives are based on the benefits a project represents for the community and whether tax

We offer numerous financial tools to assist the needs of a growing business. Financial incentives are used strategically to leverage significant business expansions or relocations. Incentives are based on the benefits a project represents for the community and whether tax incentives are necessary to secure the project for Columbus. Criteria include the amount of investment and job creation and/or retention, and whether the project involves a priority sector or targeted geographic area.

Property Tax Abatement:
Enterprise Zone – The Enterprize Zone covers about 97% of the City and allows us to abate new property taxes up to 75% for 10 Years.

Community Reinvestment Area – We currently have nine Pre-1994 CRAs and 7 Post-1994 CRAs within the City. These CRA districts allow abatement on new property taxes up to 100% for 15 years.

Performance Incentives:
Downtown Office Incentive - Payment equal to 50% of local income tax withholdings for a negotiated amount of years for new jobs created and retained within Downtown.

Large Employer Office Incentive – Payment equal to 50% of local income tax withholdings for a negotiated amount of years for large-scale (500+) job creation and retention within the City.

Jobs Growth Incentives – Payments equivalent up to 30% of local income tax withholdings for a negotiated amount of years for non-Downtown job creation and retention within the City.

Capital Improvements Funds:
Downtown Streetscape Improvements – Funding for Downtown Commercial and residential projects to be used specifically for streetscape projects.

Capital Improvements for ED – Funding for improvements in the public right-of-way to assist in the development of commercial sites.

Urban Infrastructure Recovery Fund – Annual awards made to central city neighborhoods for capital improvement proposed by the neighborhood.

Business Loans:
Business Development Loan Fund – Loan of up to $200,000 for acquisition of machinery and equipment or real estate.

Working Capital Loan Fund – Loan of up to $100,000 per year for five years to be used for operating costs.

NCR Investment Fund – Loan of up to $200,000 for fixed asset financing within the NCR Districts.

NCR Commercial Investment Fund – Loan of up to $25,000 for exterior renovation of real property within the NCR Districts.

NCR Façade Renovation Fund – 0% interest loan of up to $7,500 for exterior renovation of real property within the NCR Districts.

Green Switch Loan Fund – Loan of up to $200,000 for gap financing of energy efficient construction/renovation projects. Loan funds can also be used for the purchase and installation of energy efficient equipment.